oropa bashing, page-10

cheers gazzat

But im not for hire lol, I dont think for a second im smarter then managmenet this is there area & they know what there doing, but along the way a few thing have not been done which has caused investors to much pain, we just need management to act aggressively now & fill those missing gaps broker/insto support, research report, on market support etc... gold is $984 today just shy of the big $1000 & sadly I have no doubt we wont move higher again today as the market is ignoring us as a gold company rather then chasing us higher.

Below is the letter to shareholder from Misha when he joined the board in july 08, he was pretty spot on about gold markets in these current times & how gold stocks would rerate but oropa has done the complete opposite since:


LETTER TO SHAREHOLDERS

Dear Fellow Shareholder,
I would like to take this opportunity to introduce myself and emphasise the significant opportunity I
see for our company in the future.
As a starting point, I believe it is important to acknowledge that shareholders have not yet seen
an acceptable return from their investments. Whilst it is easy to be critical, I believe the current
board and management have worked diligently to achieve some significant results in recent
years. In particular, I would mention the following three:
• Delivery of the recently announced one million ounce inferred resource at the 75% owned
Pungkut property located in Indonesia, which represents a significant uplift from the
previous estimate and elevates the project into a different league.
• Identification of the Hutabargot Julu prospect at Pungkut which represents a new, large
and highly prospective target with some favorable early exploration results.
• Acquisition of large and prospective uranium tenements in Malawi for reasonable outlays
at a time when such properties were in very heavy demand.
The stock market remains skeptical of smaller gold equities despite significant increases in bullion
prices and a macro-economic backdrop that is highly similar to the period leading up to the
stagflationary 1970s. During that decade, gold prices rose from US$35 per oz to over US$700
per oz, which represented an increase of greater than 1900%. Gold equities were one of the best
performing asset classes during that period, despite the fact general stock market returns were
poor.
Oropa currently has 75% ownership of Pungkut, which has the potential to provide shareholders
with significant leverage to increasing gold prices should the project ultimately be developed.
With the gold price today trading at US$925/oz, the market value of Oropa’s 75% share of
inferred resource inventory is US$700m. Importantly, the inferred resource is only an early
estimate of gold mineralisation at Pungkut and does not indicate anything about economically
extractable mineralisation nor ultimate profitability. However, it does show that the project is large
in comparison to Oropa’s present market capitalisation of A$10m.
25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
There remains much work to be done at Pungkut, both in terms of outlining the likely economics
of the project and in adding further to resource inventory. That process is not without risk,
however further success will make the potential value of the project difficult to ignore.
So far the equity market has not rewarded positive developments at Pungkut with sustained
higher share prices and market value. Oropa is not the only developing gold company to be
treated by the market in that way. Be assured that the board and management are working hard
to improve the value of the company. Should we continue to succeed, history shows the share
price will follow.
My own investments in Oropa reflects my views gold will see much higher prices in the future and
that Pungkut has world class potential. I believe the period ahead will be similar to the 1970’s in
many ways. Already there are signs of increasing inflation and history indicates investors turn to
gold and gold equities during times like these. There are of course risks, but in my opinion Oropa
is favorably positioned at this time.
I look forward to working toward increasing the value of our company in the future.

Yours faithfully,
MISHA A COLLINS